Teacher Retirement System of Texas Grows Holdings in Glaukos Co. (NYSE:GKOS)

Teacher Retirement System of Texas lifted its position in shares of Glaukos Co. (NYSE:GKOS) by 606.7% during the 4th quarter, HoldingsChannel reports. The fund owned 20,247 shares of the medical instruments supplier’s stock after purchasing an additional 17,382 shares during the period. Teacher Retirement System of Texas’ holdings in Glaukos were worth $3,036,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its holdings in Glaukos by 438.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 4,838 shares of the medical instruments supplier’s stock valued at $726,000 after purchasing an additional 3,940 shares during the period. Xponance Inc. grew its stake in Glaukos by 13.3% in the 4th quarter. Xponance Inc. now owns 3,633 shares of the medical instruments supplier’s stock valued at $545,000 after acquiring an additional 426 shares during the period. Intech Investment Management LLC increased its holdings in Glaukos by 44.7% in the 4th quarter. Intech Investment Management LLC now owns 29,601 shares of the medical instruments supplier’s stock worth $4,438,000 after acquiring an additional 9,139 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Glaukos during the fourth quarter worth $121,390,000. Finally, Cibc World Markets Corp purchased a new position in Glaukos during the fourth quarter valued at $687,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GKOS shares. Needham & Company LLC boosted their target price on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Truist Financial boosted their price objective on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. BTIG Research lifted their price target on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Monday, December 2nd. Finally, UBS Group assumed coverage on shares of Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Price Performance

Glaukos stock opened at $106.72 on Wednesday. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.04 billion, a P/E ratio of -37.18 and a beta of 0.99. The company has a 50-day moving average price of $133.61 and a 200 day moving average price of $136.29. Glaukos Co. has a 12-month low of $87.59 and a 12-month high of $163.71.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The firm had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.72 million. Sell-side analysts anticipate that Glaukos Co. will post -1.08 earnings per share for the current year.

Glaukos Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.